0001752724-24-034851.txt : 20240223 0001752724-24-034851.hdr.sgml : 20240223 20240223105826 ACCESSION NUMBER: 0001752724-24-034851 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240223 DATE AS OF CHANGE: 20240223 PERIOD START: 20240331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Legg Mason ETF Investment Trust CENTRAL INDEX KEY: 0001645194 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-23096 FILM NUMBER: 24667811 BUSINESS ADDRESS: STREET 1: 620 EIGHTH AVE STREET 2: 49TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 877-721-1926 MAIL ADDRESS: STREET 1: 620 EIGHTH AVE STREET 2: 49TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: Legg Mason ETF InvestmentTrust DATE OF NAME CHANGE: 20170221 FORMER COMPANY: FORMER CONFORMED NAME: Legg Mason ETF Equity Trust DATE OF NAME CHANGE: 20150615 0001645194 S000054583 Franklin International Low Volatility High Dividend Index ETF C000171451 Franklin International Low Volatility High Dividend Index ETF LVHI NPORT-P 1 primary_doc.xml NPORT-P false 0001645194 XXXXXXXX S000054583 C000171451 Legg Mason ETF Investment Trust 811-23096 0001645194 549300D7ZZ1A7JJ9G964 620 Eighth Avenue 47thFloor New York 10018 1-877-721-1926 Franklin International Low Volatility High Dividend Index ETF S000054583 549300U5VMZRL3H15M55 2024-03-31 2023-12-31 N 667717026.82 13367096.39 654349930.43 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 758409.05000000 N Frasers Centrepoint Trust 5493002RGQ266FKERZ83 Frasers Centrepoint Trust 000000000 471400.00000000 NS 807644.61000000 0.123427018547 Long EC CORP SG N 1 N N N JB Hi-Fi Ltd 529900TPC8H040Y3ZQ65 JB Hi-Fi Ltd 000000000 94519.00000000 NS 3420173.26000000 0.522682604665 Long EC CORP AU N 1 N N N Kerry Properties Ltd 5299006T5ULIIRZ7LK49 Kerry Properties Ltd 000000000 199078.00000000 NS 364066.80000000 0.055637936686 Long EC CORP HK N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -1043320.52000000 -0.15944381919 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -72644450.00000000 GBP 91568910.38000000 USD 2024-01-09 -1043320.52000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -33358.99000000 -0.00509803523 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -1046326.00000000 CHF 1211066.11000000 USD 2024-01-09 -33358.99000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -78.05000000 -0.00001192786 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -22181.00000000 SEK 2123.78000000 USD 2024-01-09 -78.05000000 N N N Harvey Norman Holdings Ltd 529900ONRWOF42PYKU59 Harvey Norman Holdings Ltd 000000000 801895.00000000 NS 2298127.70000000 0.351207754922 Long EC CORP AU N 1 N N N Hafnia Ltd 5493001KCFT0SCGJ2647 Hafnia Ltd 000000000 212743.00000000 NS 1470559.25000000 0.224735906831 Long EC CORP SG N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -24.38000000 -0.00000372583 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -479096.00000000 HKD 61344.75000000 USD 2024-01-09 -24.38000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -199.42000000 -0.00003047604 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -175420.00000000 SEK 17213.93000000 USD 2024-01-09 -199.42000000 N N N Okumura Corp N/A Okumura Corp 000000000 33700.00000000 NS 1119907.08000000 0.171148039897 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -9410.88000000 -0.00143820294 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -781082.00000000 AUD 523731.88000000 USD 2024-01-09 -9410.88000000 N N N Acerinox SA 95980020140005582721 Acerinox SA 000000000 99174.00000000 NS 1167282.66000000 0.178388138474 Long EC CORP ES N 1 N N N HENDERSON LAND 529900SYQB7IVR9QGN76 Henderson Land Development Co Ltd 000000000 410177.00000000 NS 1263327.62000000 0.193066058579 Long EC CORP HK N 1 N N N Taylor Wimpey PLC 21380089BTRXTD8S3R66 Taylor Wimpey PLC 000000000 4054670.00000000 NS 7600865.13000000 1.161590270973 Long EC CORP GB N 1 N N N A2A SpA 81560076E3944316DB24 A2A SpA 000000000 1762518.00000000 NS 3619409.32000000 0.553130542494 Long EC CORP IT N 1 N N N UPM-Kymmene Oyj 213800EC6PW5VU4J9U64 UPM-Kymmene Oyj 000000000 222486.00000000 NS 8370898.61000000 1.279269427674 Long EC CORP FI N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -4073370.53000000 -0.62250645114 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -182094594.00000000 EUR 197155273.68000000 USD 2024-01-09 -4073370.53000000 N N N ICE FUTURES U.S., INC. 5493004R83R1LVX2IL36 MSCI EAFE 000000000 21.00000000 NC USD 86791.53000000 0.013263779204 N/A DE CORP US N 1 ICE FUTURES U.S., INC. 5493004R83R1LVX2IL36 Long MSCI MSCI EAFE INDEX 2024-03-15 2278228.47000000 USD 86791.53000000 N N N Exedy Corp 35380047PHY08BBD5M18 Exedy Corp 000000000 28200.00000000 NS 518873.60000000 0.079296042663 Long EC CORP JP N 1 N N N CapitaLand Ascendas REIT 549300ILIBAEMQZK3L20 CapitaLand Ascendas REIT 000000000 1842500.00000000 NS 4232260.63000000 0.646788581030 Long EC CORP SG N 1 N N N Bouygues SA 969500MOCLNQFNZN0D63 Bouygues SA 000000000 168665.00000000 NS 6357095.61000000 0.971513148297 Long EC CORP FR N 1 N N N ANZ Group Holdings Ltd 9845005D9C6BAA10BK72 ANZ Group Holdings Ltd 000000000 19714.00000000 NS 348672.03000000 0.053285255149 Long EC CORP AU N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -5662.27000000 -0.00086532751 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -1516653.00000000 SGD 1144615.27000000 USD 2024-01-09 -5662.27000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -3382.22000000 -0.00051688245 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -185094.00000000 GBP 232588.57000000 USD 2024-01-09 -3382.22000000 N N N SmartCentres Real Estate Inves 549300HKEP2IYWZ14H97 SmartCentres Real Estate Investment Trust 83179X108 84131.00000000 NS 1588063.54000000 0.242693315326 Long EC CORP CA N 1 N N N ComfortDelGro Corp Ltd 2549005O5PVA2JCH6Q33 ComfortDelGro Corp Ltd 000000000 1268500.00000000 NS 1346296.72000000 0.205745680925 Long EC CORP SG N 1 N N N SmartGroup Corp Ltd N/A SmartGroup Corp Ltd 000000000 156484.00000000 NS 931094.55000000 0.142293061663 Long EC CORP AU N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -24562.27000000 -0.00375369032 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -914029.00000000 EUR 985510.64000000 USD 2024-01-09 -24562.27000000 N N N United Overseas Bank Ltd IO66REGK3RCBAMA8HR66 United Overseas Bank Ltd 000000000 540700.00000000 NS 11661674.63000000 1.782177102446 Long EC CORP SG N 1 N N N Michelin 549300SOSI58J6VIW052 Cie Generale des Etablissements Michelin SCA 000000000 231946.00000000 NS 8316874.59000000 1.271013291700 Long EC CORP FR N 1 N N N Hankyu Hanshin REIT Inc N/A Hankyu Hanshin REIT Inc 000000000 337.00000000 NS 332266.99000000 0.050778180687 Long EC CORP JP N 1 N N N Poste Italiane SpA 815600354DEDBD0BA991 Poste Italiane SpA 000000000 350705.00000000 NS 3980600.00000000 0.608328940660 Long EC CORP IT N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -2564.32000000 -0.00039188817 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -98755.00000000 AUD 64842.83000000 USD 2024-01-09 -2564.32000000 N N N Orange SA 969500MCOONR8990S771 Orange SA 000000000 1039465.00000000 NS 11831518.05000000 1.808133156249 Long EC CORP FR N 1 N N N Invesco Treasury Portfolio 5493004B3TM8ZIDDDC39 Invesco Treasury Portfolio 825252406 1478615.91000000 NS USD 1478615.91000000 0.225967153236 Long STIV RF US N 1 N N N Pembina Pipeline Corp 5493002W3L9YICM6FU21 Pembina Pipeline Corp 706327103 502226.00000000 NS 17375663.67000000 2.655408499635 Long EC CORP CA N 1 N N N Labrador Iron Ore Royalty Corp N/A Labrador Iron Ore Royalty Corp 505440107 25374.00000000 NS 613856.06000000 0.093811587875 Long EC CORP CA N 1 N N N Mapletree Industrial Trust 549300R7WZFHXNKDJF41 Mapletree Industrial Trust 000000000 897900.00000000 NS 1708535.37000000 0.261104233460 Long EC CORP SG N 1 N N N Enel SpA WOCMU6HCI0OJWNPRZS33 Enel SpA 000000000 194242.00000000 NS 1444052.41000000 0.220685040655 Long EC CORP IT N 1 N N N Nippon Carbon Co Ltd N/A Nippon Carbon Co Ltd 000000000 14000.00000000 NS 435451.84000000 0.066547243263 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -9424.79000000 -0.00144032872 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -799173.00000000 CAD 596733.09000000 USD 2024-01-09 -9424.79000000 N N N Navigator Co SA/The 549300UNIB7M2AXUXS35 Navigator Co SA/The 000000000 177264.00000000 NS 694750.56000000 0.106174162736 Long EC CORP PT N 1 N N N CIBC 2IGI19DL77OX0HC3ZE78 Canadian Imperial Bank of Commerce 136069101 260165.00000000 NS 12587992.57000000 1.923740186191 Long EC CORP CA N 1 N N N Bayerische Motoren Werke AG YEH5ZCD6E441RHVHD759 Bayerische Motoren Werke AG 000000000 148664.00000000 NS 16550263.70000000 2.529268046093 Long EC CORP DE N 1 N N N Imperial Brands PLC 549300DFVPOB67JL3A42 Imperial Brands PLC 000000000 633545.00000000 NS 14590088.20000000 2.229707305143 Long EC CORP GB N 1 N N N TietoEVRY Oyj 549300EW2KM4KROKQV31 TietoEVRY Oyj 000000000 44288.00000000 NS 1053795.93000000 0.161044707272 Long EC CORP FI N 1 N N N Japan Post Holdings Co Ltd 5299003D9N4JBS256X18 Japan Post Holdings Co Ltd 000000000 1782100.00000000 NS 15921087.74000000 2.433115218570 Long EC CORP JP N 1 N N N Bank of Nova Scotia/The L3I9ZG2KFGXZ61BMYR72 Bank of Nova Scotia/The 064149107 320429.00000000 NS 15673950.02000000 2.395346784815 Long EC CORP CA N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -8385.34000000 -0.00128147641 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -40491510.00000000 JPY 279249.10000000 USD 2024-01-09 -8385.34000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -78.58000000 -0.00001200886 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -65230.00000000 SEK 6396.58000000 USD 2024-01-09 -78.58000000 N N N Mitsubishi Corp KVIPTY4PULAPGC1VVD26 Mitsubishi Corp 000000000 939000.00000000 NS 15009480.07000000 2.293800208725 Long EC CORP JP N 1 N N N Mitsuboshi Belting Ltd N/A Mitsuboshi Belting Ltd 000000000 53700.00000000 NS 1670268.83000000 0.255256209609 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -5955.73000000 -0.00091017507 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -251482.00000000 AUD 165698.22000000 USD 2024-01-09 -5955.73000000 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -6231.12000000 -0.00095226112 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -319964520.00000000 JPY 2266660.53000000 USD 2024-01-09 -6231.12000000 N N N Mapfre SA 95980020140005693107 Mapfre SA 000000000 465438.00000000 NS 998985.96000000 0.152668459725 Long EC CORP ES N 1 N N N SoftBank Corp 353800M1YCTS9JRBJ535 SoftBank Corp 000000000 1426900.00000000 NS 17808416.44000000 2.721543261767 Long EC CORP JP N 1 N N N Kumagai Gumi Co Ltd 529900M993KYZI2Q1Q47 Kumagai Gumi Co Ltd 000000000 37100.00000000 NS 948684.21000000 0.144981173815 Long EC CORP JP N 1 N N N Proximus SADP 549300CWRXC5EP004533 Proximus SADP 000000000 133071.00000000 NS 1250943.60000000 0.191173490181 Long EC CORP BE N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -4708.91000000 -0.00071963177 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -411320.00000000 SGD 307249.17000000 USD 2024-01-09 -4708.91000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -5655.72000000 -0.00086432652 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -544604.00000000 GBP 688643.59000000 USD 2024-01-09 -5655.72000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -13466.11000000 -0.00205793710 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -389098.00000000 CHF 449299.14000000 USD 2024-01-09 -13466.11000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -24990.86000000 -0.00381918891 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -9009915.00000000 SEK 869393.15000000 USD 2024-01-09 -24990.86000000 N N N British American Tobacco PLC 213800FKA5MF17RJKT63 British American Tobacco PLC 000000000 495357.00000000 NS 14495663.05000000 2.215276929956 Long EC CORP GB N 1 N N N Italgas SpA 815600F25FF44EF1FA76 Italgas SpA 000000000 340822.00000000 NS 1950213.37000000 0.298038294085 Long EC CORP IT N 1 N N N NTT UD REIT Investment Corp N/A NTT UD REIT Investment Corp 000000000 1145.00000000 NS 1012778.41000000 0.154776269225 Long EC CORP JP N 1 N N N Assicurazioni Generali SpA 549300X5UKJVE386ZB61 Assicurazioni Generali SpA 000000000 403887.00000000 NS 8523768.91000000 1.302631591081 Long EC CORP IT N 1 N N N Ichigo Office REIT Investment N/A Ichigo Office REIT Investment Corp 000000000 950.00000000 NS 555929.92000000 0.084959116544 Long EC CORP JP N 1 N N N CK Infrastructure Holdings Ltd 5299005U11RQ1C27MR12 CK Infrastructure Holdings Ltd 000000000 242042.00000000 NS 1339072.48000000 0.204641647798 Long EC CORP HK N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -204.57000000 -0.00003126308 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -58495.00000000 SEK 5602.03000000 USD 2024-01-09 -204.57000000 N N N Canon Inc 529900JH1GSC035SSP77 Canon Inc 000000000 313800.00000000 NS 8057568.45000000 1.231385238278 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -6251.27000000 -0.00095534051 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -271664.00000000 CAD 199800.83000000 USD 2024-01-09 -6251.27000000 N N N Power Corp of Canada 549300BE2CB8T87IJV50 Power Corp of Canada 739239101 153732.00000000 NS 4417492.40000000 0.675096335243 Long EC CORP CA N 1 N N N Power Assets Holdings Ltd 254900JOWYUW1ZX4DF47 Power Assets Holdings Ltd 000000000 394176.00000000 NS 2284222.29000000 0.349082682487 Long EC CORP HK N 1 N N N Hazama Ando Corp 353800YSSP5B2GMQ6E51 Hazama Ando Corp 000000000 112100.00000000 NS 887385.44000000 0.135613285603 Long EC CORP JP N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -1788.37000000 -0.00027330483 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -627375.00000000 NOK 60002.51000000 USD 2024-01-09 -1788.37000000 N N N Japan Prime Realty Investment 353800NJOQJAY1ODEX72 Japan Prime Realty Investment Corp 000000000 127.00000000 NS 315292.95000000 0.048184149693 Long EC CORP JP N 1 N N N Vodafone Group PLC 213800TB53ELEUKM7Q61 Vodafone Group PLC 000000000 16796654.00000000 NS 14680338.46000000 2.243499659326 Long EC CORP GB N 1 N N N Mori Hills REIT Investment Cor N/A Mori Hills REIT Investment Corp 000000000 670.00000000 NS 666293.09000000 0.101825194596 Long EC CORP JP N 1 N N N Orkla ASA 549300PZS8G8RG6RVZ52 Orkla ASA 000000000 200316.00000000 NS 1555078.77000000 0.237652469677 Long EC CORP NO N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -2447.28000000 -0.00037400172 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -191701.00000000 SGD 142944.81000000 USD 2024-01-09 -2447.28000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD 2110.09000000 0.000322471188 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -1464339.00000000 GBP 1868951.97000000 USD 2024-01-09 2110.09000000 N N N Venture Corp Ltd 254900B1NLZC3J1MAE72 Venture Corp Ltd 000000000 441700.00000000 NS 4557301.95000000 0.696462510052 Long EC CORP SG N 1 N N N CT Real Estate Investment Trus 549300QXEHJXT6D53X16 CT Real Estate Investment Trust 126462100 39697.00000000 NS 441044.33000000 0.067401906761 Long EC CORP CA N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -808454.61000000 -0.12355080552 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -38590614.00000000 AUD 25532322.03000000 USD 2024-01-09 -808454.61000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -194750.81000000 -0.02976248654 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -30779711.00000000 NOK 2836778.02000000 USD 2024-01-09 -194750.81000000 N N N Redeia Corp SA 5493009HMD0C90GUV498 Redeia Corp SA 000000000 196842.00000000 NS 3242053.39000000 0.495461715395 Long EC CORP ES N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -584.55000000 -0.00008933293 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -79424.00000000 NOK 7238.01000000 USD 2024-01-09 -584.55000000 N N N Iberdrola SA 5QK37QC7NWOJ8D7WVQ45 Iberdrola SA 000000000 1351747.00000000 NS 17724373.10000000 2.708699470381 Long EC CORP ES N 1 N N N Mercedes-Benz Group AG 529900R27DL06UVNT076 Mercedes-Benz Group AG 000000000 246736.00000000 NS 17048437.58000000 2.605400686570 Long EC CORP DE N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -10868.12000000 -0.00166090336 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -119049779.00000000 JPY 834810.79000000 USD 2024-01-09 -10868.12000000 N N N Oversea-Chinese Banking Corp L 5493007O3QFXCPOGWK22 Oversea-Chinese Banking Corp Ltd 000000000 989800.00000000 NS 9754681.22000000 1.490743830841 Long EC CORP SG N 1 N N N Japan Tobacco Inc 353800Z0ENYBQO0XRJ31 Japan Tobacco Inc 000000000 623900.00000000 NS 16130766.78000000 2.465159088410 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -707781.72000000 -0.10816562928 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -74089744.00000000 SGD 55484220.38000000 USD 2024-01-09 -707781.72000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -2158503.83000000 -0.32986995636 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -52064145.00000000 CHF 59762855.85000000 USD 2024-01-09 -2158503.83000000 N N N SBM Offshore NV 549300RDGCRYZ5QE6513 SBM Offshore NV 000000000 82160.00000000 NS 1129937.79000000 0.172680967392 Long EC CORP NL N 1 N N N Kanematsu Corp 353800N574WR0FX80I71 Kanematsu Corp 000000000 78100.00000000 NS 1143967.23000000 0.174824994517 Long EC CORP JP N 1 N N N BT Group PLC 213800LRO7NS5CYQMN21 BT Group PLC 000000000 1098880.00000000 NS 1731455.06000000 0.264606899073 Long EC CORP GB N 1 N N N Peab AB 549300FQS4VD3153I854 Peab AB 000000000 93857.00000000 NS 531783.54000000 0.081268983959 Long EC CORP SE N 1 N N N SOSiLA Logistics REIT Inc N/A SOSiLA Logistics REIT Inc 000000000 428.00000000 NS 364610.58000000 0.055721039010 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -3694.93000000 -0.00056467187 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -290447.00000000 AUD 194555.34000000 USD 2024-01-09 -3694.93000000 N N N Volkswagen AG 529900NNUPAGGOMPXZ31 Volkswagen AG 000000000 134287.00000000 NS 16584429.07000000 2.534489315082 Long EP CORP DE N 1 N N N Zurich Insurance Group AG 529900QVNRBND50TXP03 Zurich Insurance Group AG 000000000 32780.00000000 NS 17121235.67000000 2.616525940294 Long EC CORP CH N 1 N N N Kesko Oyj 743700OX6HSVMCAHPB95 Kesko Oyj 000000000 105228.00000000 NS 2083604.23000000 0.318423542680 Long EC CORP FI N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -28269.32000000 -0.00432021441 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -2149214.00000000 CAD 1601869.58000000 USD 2024-01-09 -28269.32000000 N N N Eni SpA BUCRF72VH5RBN7X3VL35 Eni SpA 000000000 982927.00000000 NS 16664711.73000000 2.546758386456 Long EC CORP IT N 1 N N N Tosoh Corp 529900YSLFVJF2MDBX02 Tosoh Corp 000000000 345300.00000000 NS 4411159.74000000 0.674128556428 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -11562.61000000 -0.00176703770 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -527805.00000000 CAD 388767.68000000 USD 2024-01-09 -11562.61000000 N N N Heiwa Real Estate REIT Inc 3538003GH25628YW4R98 Heiwa Real Estate REIT Inc 000000000 366.00000000 NS 349436.80000000 0.053402129923 Long EC CORP JP N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -5946.55000000 -0.00090877216 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -132246.00000000 CHF 151337.36000000 USD 2024-01-09 -5946.55000000 N N N CK Hutchison Holdings Ltd 254900Z8HM1VEPOQ2G79 CK Hutchison Holdings Ltd 000000000 957204.00000000 NS 5130144.19000000 0.784006225327 Long EC CORP HK N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -1454141.20000000 -0.22222684413 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -15691260068.00000000 JPY 110009885.85000000 USD 2024-01-09 -1454141.20000000 N N N OMV AG 549300V62YJ9HTLRI486 OMV AG 000000000 68639.00000000 NS 3015444.15000000 0.460830514342 Long EC CORP AT N 1 N N N Roche Holding AG 549300U41AUUVOAAOB37 Roche Holding AG 000000000 58283.00000000 NS 16931258.24000000 2.587492938048 Long EC CORP CH N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -547.26000000 -0.00008363414 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -233044.00000000 NOK 22405.51000000 USD 2024-01-09 -547.26000000 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -17411.79000000 -0.00266092944 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -1384577.00000000 EUR 1512653.14000000 USD 2024-01-09 -17411.79000000 N N N Frontier Real Estate Investmen N/A Frontier Real Estate Investment Corp 000000000 355.00000000 NS 1090331.96000000 0.166628268651 Long EC CORP JP N 1 N N N National Grid PLC 8R95QZMKZLJX5Q2XR704 National Grid PLC 000000000 1254186.00000000 NS 16915704.89000000 2.585116021772 Long EC CORP GB N 1 N N N Rubis SCA 969500MGFIKUGLTC9742 Rubis SCA 000000000 36897.00000000 NS 917061.21000000 0.140148438526 Long EC CORP FR N 1 N N N Telefonica SA 549300EEJH4FEPDBBR25 Telefonica SA 879382109 2133343.00000000 NS 8328216.03000000 1.272746529449 Long EC CORP ES N 1 N N N CSR Ltd 549300TOGR54OMW2T093 CSR Ltd 000000000 414951.00000000 NS 1868736.69000000 0.285586748480 Long EC CORP AU N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -16852.13000000 -0.00257540028 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -3722969.00000000 EUR 4097317.26000000 USD 2024-01-09 -16852.13000000 N N N Legal & General Group PLC 213800JH9QQWHLO99821 Legal & General Group PLC 000000000 664296.00000000 NS 2126428.75000000 0.324968132662 Long EC CORP GB N 1 N N N Takara Leben Real Estate Inves 353800B55299YP0HS329 Takara Leben Real Estate Investment Corp 000000000 742.00000000 NS 530526.32000000 0.081076851288 Long EC CORP JP N 1 N N N Daiwa House Industry Co Ltd 353800K9WXR9XRZJZI46 Daiwa House Industry Co Ltd 000000000 322000.00000000 NS 9757298.91000000 1.491143875202 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -12536.39000000 -0.00191585410 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -83153486.00000000 JPY 578150.55000000 USD 2024-01-09 -12536.39000000 N N N Terna - Rete Elettrica Naziona 8156009E94ED54DE7C31 Terna - Rete Elettrica Nazionale 000000000 577500.00000000 NS 4818964.41000000 0.736450664376 Long EC CORP IT N 1 N N N ACEA SpA 549300Q3448N041CTH56 ACEA SpA 000000000 42260.00000000 NS 645619.18000000 0.098665736783 Long EC CORP IT N 1 N N N Vistry Group PLC 2138001KOWN7CG9SLK53 Vistry Group PLC 000000000 228710.00000000 NS 2675061.13000000 0.408812014122 Long EC CORP GB N 1 N N N NRW Holdings Ltd 5493003S2MORCH0HEL95 NRW Holdings Ltd 000000000 336656.00000000 NS 684557.58000000 0.104616436583 Long EC CORP AU N 1 N N N Transcontinental Inc 549300C86G4JLR01YF53 Transcontinental Inc 893578104 52682.00000000 NS 547355.83000000 0.083648794711 Long EC CORP CA N 1 N N N Iren SpA 8156001EBD33FD474E60 Iren SpA 000000000 331098.00000000 NS 721619.72000000 0.110280399896 Long EC CORP IT N 1 N N N BOC Hong Kong Holdings Ltd 254900JB98W77JDJMW15 BOC Hong Kong Holdings Ltd 000000000 1680904.00000000 NS 4563608.45000000 0.697426291006 Long EC CORP HK N 1 N N N Cofinimmo SA 549300TM914CSF6KI389 Cofinimmo SA 000000000 7322.00000000 NS 577500.93000000 0.088255672254 Long EC CORP BE N 1 N N N SingTel 2549003XJKIQO8YDYD89 Singapore Telecommunications Ltd 000000000 4428400.00000000 NS 8292129.48000000 1.267231659144 Long EC CORP SG N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -2358299.50000000 -0.36040341571 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -105053438.00000000 CAD 77322782.06000000 USD 2024-01-09 -2358299.50000000 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -4245.38000000 -0.00064879352 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -564026.00000000 SGD 423529.75000000 USD 2024-01-09 -4245.38000000 N N N Stellantis NV 549300LKT9PW7ZIBDF31 Stellantis NV 000000000 830001.00000000 NS 19391604.16000000 2.963491437564 Long EC CORP NL N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -7954.66000000 -0.00121565841 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -395007.00000000 GBP 495627.92000000 USD 2024-01-09 -7954.66000000 N N N Activia Properties Inc 353800RPGYN3ML8CXV54 Activia Properties Inc 000000000 359.00000000 NS 989299.90000000 0.151188202824 Long EC CORP JP N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -12063.87000000 -0.00184364197 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -470647.00000000 EUR 508037.55000000 USD 2024-01-09 -12063.87000000 N N N NCC AB 213800WRGLW3CY4MHW53 NCC AB 000000000 34781.00000000 NS 433474.76000000 0.066245099119 Long EC CORP SE N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -1104.42000000 -0.00016878125 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -169528.00000000 NOK 15592.59000000 USD 2024-01-09 -1104.42000000 N N N Koninklijke KPN NV 549300YO0JZHAL7FVP81 Koninklijke KPN NV 000000000 2064797.00000000 NS 7111778.50000000 1.086846375199 Long EC CORP NL N 1 N N N Swisscom AG 5493005SL9HHOXS3B739 Swisscom AG 000000000 11208.00000000 NS 6738249.87000000 1.029762449210 Long EC CORP CH N 1 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -8673.99000000 -0.00132558889 N/A DFE CORP US N 2 State Street Bank and Trust Company 571474TGEMMWANRLN572 -177093.00000000 CHF 201947.72000000 USD 2024-01-09 -8673.99000000 N N N DBS Group Holdings Ltd 5493007FKT78NKPM5V55 DBS Group Holdings Ltd 000000000 664600.00000000 NS 16832905.77000000 2.572462376352 Long EC CORP SG N 1 N N N Sun Hung Kai Properties Ltd 529900LUMD393RD3S874 Sun Hung Kai Properties Ltd 000000000 635693.00000000 NS 6875063.08000000 1.050670713066 Long EC CORP HK N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -11722.45000000 -0.00179146500 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -181298507.00000000 HKD 23211455.80000000 USD 2024-01-09 -11722.45000000 N N N Holcim AG 529900EHPFPYHV6IQO98 Holcim AG 000000000 220244.00000000 NS 17276194.24000000 2.640207240283 Long EC CORP CH N 1 N N N CLP Holdings Ltd 25490002BUTSMP94GO68 CLP Holdings Ltd 000000000 449544.00000000 NS 3710434.18000000 0.567041273705 Long EC CORP HK N 1 N N N ARE Holdings Inc 353800W25FCOFE32EM73 ARE Holdings Inc 000000000 86200.00000000 NS 1192908.21000000 0.182304322889 Long EC CORP JP N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD 95.94000000 0.000014661879 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -3790599.00000000 HKD 485647.41000000 USD 2024-01-09 95.94000000 N N N Mirai Corp 353800HQCYM7P10R9D93 Mirai Corp 000000000 1118.00000000 NS 344567.31000000 0.052657957764 Long EC CORP JP N 1 N N N Gibson Energy Inc 549300WYW5D9I3FR0643 Gibson Energy Inc 374825206 291806.00000000 NS 4454766.25000000 0.680792652804 Long EC CORP CA N 1 N N N Fukuoka REIT Corp N/A Fukuoka REIT Corp 000000000 289.00000000 NS 351154.06000000 0.053664567484 Long EC CORP JP N 1 N N N Koninklijke BAM Groep NV 724500V38C5KTDY5BS93 Koninklijke BAM Groep NV 000000000 176198.00000000 NS 470632.61000000 0.071923689162 Long EC CORP NL N 1 N N N BHP Group Ltd WZE1WSENV6JSZFK0JC28 BHP Group Ltd 000000000 535847.00000000 NS 18431677.48000000 2.816792150934 Long EC CORP AU N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD -47.13000000 -0.00000720256 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -1083323.00000000 HKD 138719.61000000 USD 2024-01-09 -47.13000000 N N N Great-West Lifeco Inc 549300X81X4VZEESFU46 Great-West Lifeco Inc 39138C106 431025.00000000 NS 14336991.13000000 2.191028143088 Long EC CORP CA N 1 N N N Haseko Corp 529900EH7TSG348O4045 Haseko Corp 000000000 229700.00000000 NS 2984894.31000000 0.456161783044 Long EC CORP JP N 1 N N N Global One Real Estate Investm N/A Global One Real Estate Investment Corp 000000000 628.00000000 NS 487771.32000000 0.074542885590 Long EC CORP JP N 1 N N N ACS Actividades de Construccio 95980020140005558665 ACS Actividades de Construccion y Servicios SA 000000000 87507.00000000 NS 3882051.11000000 0.593268361387 Long EC CORP ES N 1 N N N Schaeffler AG 549300Q7E782X7GC1P43 Schaeffler AG 000000000 96472.00000000 NS 596246.88000000 0.091120492609 Long EP CORP DE N 1 N N N Rio Tinto PLC 213800YOEO5OQ72G2R82 Rio Tinto PLC 000000000 240049.00000000 NS 17877382.71000000 2.732082923620 Long EC CORP GB N 1 N N N Emera Inc NQZVQT2P5IUF2PGA1Q48 Emera Inc 290876101 283761.00000000 NS 10824494.39000000 1.654236347650 Long EC CORP CA N 1 N N N UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 CURRENCY CONTRACT - USD 000000000 1.00000000 NC USD 202.57000000 0.000030957441 N/A DFE CORP US N 2 UBS SECURITIES LLC T6FIZBDPKLYJKFCRVK44 -1409645.00000000 HKD 180769.07000000 USD 2024-01-09 202.57000000 N N N Baloise Holding AG 529900G5XKBZN48T6283 Baloise Holding AG 000000000 15290.00000000 NS 2394370.58000000 0.365915921841 Long EC CORP CH N 1 N N N Hulic Reit Inc N/A Hulic Reit Inc 000000000 741.00000000 NS 784204.85000000 0.119844874054 Long EC CORP JP N 1 N N N Nishimatsu Construction Co Ltd N/A Nishimatsu Construction Co Ltd 000000000 62100.00000000 NS 1729355.94000000 0.264286104357 Long EC CORP JP N 1 N N N 2024-02-22 Legg Mason ETF Investment Trust Christopher Berarducci Christopher Berarducci Principal Financial Officer XXXX NPORT-EX 2 207747LM123123.htm HTML

FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

    SHARES      VALUE  
COMMON STOCKS - 98.5%      
COMMUNICATION SERVICES - 11.9%      

Diversified Telecommunication Services - 6.9%

      

BT Group PLC

      1,098,880      $ 1,731,455  

Koninklijke KPN NV

      2,064,797        7,111,779  

Orange SA

      1,039,465        11,831,518  

Proximus SADP

      133,071        1,250,944  

Singapore Telecommunications Ltd.

      4,428,400        8,292,129  

Swisscom AG, Registered Shares

      11,208        6,738,250  

Telefonica SA

      2,133,343        8,328,216  
     

 

 

  

Total Diversified Telecommunication Services

         45,284,291  
     

 

 

  

Wireless Telecommunication Services - 5.0%

      

SoftBank Corp.

      1,426,900        17,808,416  

Vodafone Group PLC

      16,796,654        14,680,339  
     

 

 

  

Total Wireless Telecommunication Services

         32,488,755  
     

 

 

  

TOTAL COMMUNICATION SERVICES

         77,773,046  
     

 

 

  
CONSUMER DISCRETIONARY - 12.3%      

Automobile Components - 1.3%

      

Cie Generale des Etablissements Michelin SCA

      231,946        8,316,874  

Exedy Corp.

      28,200        518,874  
     

 

 

  

Total Automobile Components

         8,835,748  
     

 

 

  

Automobiles - 8.1%

      

Bayerische Motoren Werke AG

      148,664        16,550,264  

Mercedes-Benz Group AG

      246,736        17,048,437  

Stellantis NV

      830,001        19,391,604  
     

 

 

  

Total Automobiles

         52,990,305  
     

 

 

  

Broadline Retail - 0.4%

      

Harvey Norman Holdings Ltd.

      801,895        2,298,128  
     

 

 

  

Household Durables - 2.0%

      

Haseko Corp.

      229,700        2,984,895  

Taylor Wimpey PLC

      4,054,670        7,600,865  

Vistry Group PLC

      228,710        2,675,061  
     

 

 

  

Total Household Durables

         13,260,821  
     

 

 

  

Specialty Retail - 0.5%

      

JB Hi-Fi Ltd.

      94,519        3,420,173  
     

 

 

  

TOTAL CONSUMER DISCRETIONARY

         80,805,175  
     

 

 

  
CONSUMER STAPLES - 7.5%      

Consumer Staples Distribution & Retail - 0.3%

      

Kesko oyj, Class B Shares

      105,228        2,083,604  
     

 

 

  

Food Products - 0.3%

      

Orkla ASA

      200,316        1,555,079  
     

 

 

  

Tobacco - 6.9%

      

British American Tobacco PLC

      495,357        14,495,663  

Imperial Brands PLC

      633,545        14,590,088  

Japan Tobacco Inc.

      623,900        16,130,767  
     

 

 

  

Total Tobacco

         45,216,518  
     

 

 

  

TOTAL CONSUMER STAPLES

         48,855,201  
     

 

 

  

 

See Notes to Schedules of Investments.

 

 

Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report 

  

 

 

1

FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

    SHARES      VALUE  
ENERGY - 6.7%      

Energy Equipment & Services - 0.2%

      

SBM Offshore NV

      82,160      $ 1,129,938  
     

 

 

  

Oil, Gas & Consumable Fuels - 6.5%

      

Eni SpA

      982,927        16,664,712  

Gibson Energy Inc.

      291,806        4,454,766  

Hafnia Ltd.

      212,743        1,470,559  

OMV AG

      68,639        3,015,444  

Pembina Pipeline Corp.

      502,226        17,375,664  
     

 

 

  

Total Oil, Gas & Consumable Fuels

         42,981,145  
     

 

 

  

TOTAL ENERGY

         44,111,083  
     

 

 

  
FINANCIALS - 21.6%      

Banks - 10.9%

      

ANZ Group Holdings Ltd.

      19,714        348,672  

Bank of Nova Scotia

      320,429        15,673,950  

BOC Hong Kong Holdings Ltd.

      1,680,904        4,563,608  

Canadian Imperial Bank of Commerce

      260,165        12,587,993  

DBS Group Holdings Ltd.

      664,600        16,832,906  

Oversea-Chinese Banking Corp. Ltd.

      989,800        9,754,681  

United Overseas Bank Ltd.

      540,700        11,661,675  
     

 

 

  

Total Banks

         71,423,485  
     

 

 

  

Insurance - 10.7%

      

Assicurazioni Generali SpA

      403,887        8,523,769  

Baloise Holding AG, Registered Shares

      15,290        2,394,370  

Great-West Lifeco Inc.

      431,025        14,336,991  

Japan Post Holdings Co. Ltd.

      1,782,100        15,921,088  

Legal & General Group PLC

      664,296        2,126,429  

Mapfre SA

      465,438        998,986  

Poste Italiane SpA

      350,705        3,980,600  

Power Corp. of Canada

      153,732        4,417,492  

Zurich Insurance Group AG

      32,780        17,121,236  
     

 

 

  

Total Insurance

         69,820,961  
     

 

 

  

TOTAL FINANCIALS

         141,244,446  
     

 

 

  
HEALTH CARE - 2.6%      

Pharmaceuticals - 2.6%

      

Roche Holding AG

      58,283        16,931,258  
     

 

 

  
INDUSTRIALS - 6.5%      

Construction & Engineering - 2.6%

      

ACS Actividades de Construccion y Servicios SA

      87,507        3,882,051  

Bouygues SA

      168,665        6,357,096  

Hazama Ando Corp.

      112,100        887,385  

Koninklijke BAM Groep NV

      176,198        470,633  

Kumagai Gumi Co. Ltd.

      37,100        948,684  

NCC AB, Class B Shares

      34,781        433,475  

Nishimatsu Construction Co. Ltd.

      62,100        1,729,356  

NRW Holdings Ltd.

      336,656        684,558  

Okumura Corp.

      33,700        1,119,907  

Peab AB, Class B Shares

      93,857        531,783  
     

 

 

  

Total Construction & Engineering

         17,044,928  
     

 

 

  

 

See Notes to Schedules of Investments.

 

 

 

2

  

 Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report

  

FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

    SHARES      VALUE  

Electrical Equipment - 0.1%

      

Nippon Carbon Co. Ltd.

      14,000      $ 435,452  
     

 

 

  

Ground Transportation - 0.2%

      

ComfortDelGro Corp. Ltd.

      1,268,500        1,346,297  
     

 

 

  

Industrial Conglomerates - 0.8%

      

CK Hutchison Holdings Ltd.

      957,204        5,130,144  
     

 

 

  

Machinery - 0.2%

      

Mitsuboshi Belting Ltd.

      53,700        1,670,269  
     

 

 

  

Professional Services - 0.1%

      

SmartGroup Corp. Ltd.

      156,484        931,094  
     

 

 

  

Trading Companies & Distributors - 2.5%

      

Kanematsu Corp.

      78,100        1,143,967  

Mitsubishi Corp.

      939,000        15,009,480  
     

 

 

  

Total Trading Companies & Distributors

         16,153,447  
     

 

 

  

TOTAL INDUSTRIALS

         42,711,631  
     

 

 

  
INFORMATION TECHNOLOGY - 2.1%      

Electronic Equipment, Instruments & Components - 0.7%

      

Venture Corp. Ltd.

      441,700        4,557,302  
     

 

 

  

IT Services - 0.2%

      

TietoEVRY oyj

      44,288        1,053,796  
     

 

 

  

Technology Hardware, Storage & Peripherals - 1.2%

      

Canon Inc.

      313,800        8,057,568  
     

 

 

  

TOTAL INFORMATION TECHNOLOGY

         13,668,666  
     

 

 

  
MATERIALS - 11.1%      

Chemicals - 0.7%

      

Tosoh Corp.

      345,300        4,411,160  
     

 

 

  

Construction Materials - 2.9%

      

CSR Ltd.

      414,951        1,868,737  

Holcim AG

      220,244        17,276,194  
     

 

 

  

Total Construction Materials

         19,144,931  
     

 

 

  

Containers & Packaging - 0.1%

      

Transcontinental Inc., Class A Shares

      52,682        547,356  
     

 

 

  

Metals & Mining - 6.0%

      

Acerinox SA

      99,174        1,167,283  

ARE Holdings Inc.

      86,200        1,192,908  

BHP Group Ltd.

      535,847        18,431,677  

Labrador Iron Ore Royalty Corp.

      25,374        613,856  

Rio Tinto PLC

      240,049        17,877,383  
     

 

 

  

Total Metals & Mining

         39,283,107  
     

 

 

  

 

See Notes to Schedules of Investments.

 

 

Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report 

  

 

 

3

FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

    SHARES      VALUE  

Paper & Forest Products - 1.4%

      

Navigator Co. SA

      177,264      $ 694,750  

UPM-Kymmene oyj

      222,486        8,370,899  
     

 

 

  

Total Paper & Forest Products

         9,065,649  
     

 

 

  

TOTAL MATERIALS

         72,452,203  
     

 

 

  
REAL ESTATE - 5.5%      

Diversified REITs - 0.6%

      

Activia Properties Inc.

      359        989,300  

Hankyu Hanshin REIT Inc.

      337        332,267  

Heiwa Real Estate REIT Inc.

      366        349,437  

Hulic REIT Inc.

      741        784,205  

NTT UD REIT Investment Corp.

      1,145        1,012,778  

Takara Leben Real Estate Investment Corp.

      742        530,526  
     

 

 

  

Total Diversified REITs

         3,998,513  
     

 

 

  

Health Care REITs - 0.1%

      

Cofinimmo SA

      7,322        577,501  
     

 

 

  

Industrial REITs - 1.0%

      

CapitaLand Ascendas REIT

      1,842,500        4,232,261  

Mapletree Industrial Trust

      897,900        1,708,535  

SOSiLA Logistics REIT Inc.

      428        364,611  
     

 

 

  

Total Industrial REITs

         6,305,407  
     

 

 

  

Office REITs - 0.4%

      

Global One Real Estate Investment Corp.

      628        487,772  

Ichigo Office REIT Investment Corp.

      950        555,930  

Japan Prime Realty Investment Corp.

      127        315,293  

Mirai Corp.

      1,118        344,567  

Mori Hills REIT Investment Corp.

      670        666,293  
     

 

 

  

Total Office REITs

         2,369,855  
     

 

 

  

Real Estate Management & Development - 2.8%

      

Daiwa House Industry Co. Ltd.

      322,000        9,757,299  

Henderson Land Development Co. Ltd.

      410,177        1,263,327  

Kerry Properties Ltd.

      199,078        364,067  

Sun Hung Kai Properties Ltd.

      635,693        6,875,063  
     

 

 

  

Total Real Estate Management & Development

         18,259,756  
     

 

 

  

Retail REITs - 0.6%

      

CT Real Estate Investment Trust

      39,697        441,044  

Frasers Centrepoint Trust

      471,400        807,645  

Frontier Real Estate Investment Corp.

      355        1,090,332  

Fukuoka REIT Corp.

      289        351,154  

SmartCentres Real Estate Investment Trust

      84,131        1,588,063  
     

 

 

  

Total Retail REITs

         4,278,238  
     

 

 

  

TOTAL REAL ESTATE

         35,789,270  
     

 

 

  
UTILITIES - 10.7%      

Electric Utilities - 6.9%

      

CK Infrastructure Holdings Ltd.

      242,042        1,339,073  

CLP Holdings Ltd.

      449,544        3,710,434  

Emera Inc.

      283,761        10,824,494  

 

See Notes to Schedules of Investments.

 

 

 

4

  

 Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report

  

FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

     SHARES      VALUE  

Electric Utilities - (continued)

        

Enel SpA

        194,242      $ 1,444,053  

Iberdrola SA

        1,351,747        17,724,373  

Power Assets Holdings Ltd.

        394,176        2,284,222  

Redeia Corp. SA

        196,842        3,242,053  

Terna - Rete Elettrica Nazionale SpA

        577,500        4,818,965  
       

 

 

  

Total Electric Utilities

           45,387,667  
       

 

 

  

Gas Utilities - 0.4%

        

Italgas SpA

        340,822        1,950,214  

Rubis SCA

        36,897        917,061  
       

 

 

  

Total Gas Utilities

           2,867,275  
       

 

 

  

Multi-Utilities - 3.4%

        

A2A SpA

        1,762,518        3,619,409  

ACEA SpA

        42,260        645,619  

Iren SpA

        331,098        721,620  

National Grid PLC

        1,254,186        16,915,705  
       

 

 

  

Total Multi-Utilities

           21,902,353  
       

 

 

  

TOTAL UTILITIES

           70,157,295  
       

 

 

  

TOTAL COMMON STOCKS

(Cost - $585,090,644)

           644,499,274  
       

 

 

  
     RATE               
PREFERRED STOCKS - 2.6%        
CONSUMER DISCRETIONARY - 2.6%        

Automobile Components - 0.1%

        

Schaeffler AG

      8.043 %      96,472        596,247 (a)  
       

 

 

  

Automobiles - 2.5%

        

Volkswagen AG

      7.835 %      134,287        16,584,429 (a) 
       

 

 

  

TOTAL PREFERRED STOCKS

(Cost - $18,117,325)

           17,180,676  
       

 

 

  

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS

(Cost - $603,207,969)

           661,679,950  
       

 

 

  
SHORT-TERM INVESTMENTS - 0.2%        

Invesco Treasury Portfolio, Institutional Class

(Cost - $1,478,616)

      5.622 %      1,478,616        1,478,616 (b)  
       

 

 

  

TOTAL INVESTMENTS - 101.3%

(Cost - $604,686,585)

           663,158,566  

Liabilities in Excess of Other Assets - (1.3)%

           (8,808,640 ) 
       

 

 

  

TOTAL NET ASSETS - 100.0%

         $ 654,349,926  
       

 

 

  

 

(a)

The rate shown represents the yield as of December 31, 2023.

 

(b)

Rate shown is one-day yield as of the end of the reporting period.

Abbreviation(s) used in this schedule:

REIT    — Real Estate Investment Trust

At December 31, 2023, the Fund had the following open futures contracts:

 

     Number of
Contracts		      Expiration
Date		      Notional
Amount		      Market
Value		      Unrealized
Appreciation		  
Contracts to Buy:               

MSCI EAFE Index

      21        3/24      $ 2,278,228      $ 2,365,020      $ 86,792  

 

See Notes to Schedules of Investments.

 

 

Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report 

  

 

 

5

FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

 

At December 31, 2023, the Fund had the following open forward foreign currency contracts:

 

Currency
Purchased		      Currency
Sold		     

Counterparty

    Settlement
Date		      Unrealized
Appreciation
(Depreciation)		  
USD      151,337        CHF        132,246      State Street Bank and Trust Co.      1/9/24      $ (5,947 ) 
USD      201,948        CHF        177,093      State Street Bank and Trust Co.      1/9/24        (8,674 ) 
USD      449,299        CHF        389,098      State Street Bank and Trust Co.      1/9/24        (13,466 ) 
USD      1,211,066        CHF        1,046,326      State Street Bank and Trust Co.      1/9/24        (33,359 ) 
USD      59,762,856        CHF        52,064,145      State Street Bank and Trust Co.      1/9/24        (2,158,504 ) 
USD      508,037        EUR        470,647      State Street Bank and Trust Co.      1/9/24        (12,064 ) 
USD      985,511        EUR        914,029      State Street Bank and Trust Co.      1/9/24        (24,562 ) 
USD      1,512,653        EUR        1,384,577      State Street Bank and Trust Co.      1/9/24        (17,412 ) 
USD      4,097,317        EUR        3,722,969      State Street Bank and Trust Co.      1/9/24        (16,852 ) 
USD      197,155,274        EUR        182,094,594      State Street Bank and Trust Co.      1/9/24        (4,073,371 ) 
USD      232,589        GBP        185,094      State Street Bank and Trust Co.      1/9/24        (3,382 ) 
USD      495,628        GBP        395,007      State Street Bank and Trust Co.      1/9/24        (7,955 ) 
USD      688,644        GBP        544,604      State Street Bank and Trust Co.      1/9/24        (5,656 ) 
USD      1,868,952        GBP        1,464,339      State Street Bank and Trust Co.      1/9/24        2,110  
USD      91,568,910        GBP        72,644,450      State Street Bank and Trust Co.      1/9/24        (1,043,321 ) 
USD      7,238        NOK        79,424      State Street Bank and Trust Co.      1/9/24        (585 ) 
USD      15,593        NOK        169,528      State Street Bank and Trust Co.      1/9/24        (1,104 ) 
USD      22,405        NOK        233,044      State Street Bank and Trust Co.      1/9/24        (547 ) 
USD      60,002        NOK        627,375      State Street Bank and Trust Co.      1/9/24        (1,788 ) 
USD      2,836,778        NOK        30,779,711      State Street Bank and Trust Co.      1/9/24        (194,751 ) 
USD      2,124        SEK        22,181      State Street Bank and Trust Co.      1/9/24        (78 ) 
USD      5,602        SEK        58,495      State Street Bank and Trust Co.      1/9/24        (205 ) 
USD      6,397        SEK        65,230      State Street Bank and Trust Co.      1/9/24        (79 ) 
USD      17,214        SEK        175,420      State Street Bank and Trust Co.      1/9/24        (199 ) 
USD      869,393        SEK        9,009,915      State Street Bank and Trust Co.      1/9/24        (24,991 ) 
USD      64,843        AUD        98,755      UBS Securities LLC      1/9/24        (2,564 ) 
USD      165,698        AUD        251,482      UBS Securities LLC      1/9/24        (5,956 ) 
USD      194,555        AUD        290,447      UBS Securities LLC      1/9/24        (3,695 ) 
USD      523,732        AUD        781,082      UBS Securities LLC      1/9/24        (9,411 ) 
USD      25,532,322        AUD        38,590,614      UBS Securities LLC      1/9/24        (808,455 ) 
USD      199,801        CAD        271,664      UBS Securities LLC      1/9/24        (6,251 ) 
USD      388,768        CAD        527,805      UBS Securities LLC      1/9/24        (11,563 ) 
USD      596,733        CAD        799,173      UBS Securities LLC      1/9/24        (9,425 ) 
USD      1,601,870        CAD        2,149,214      UBS Securities LLC      1/9/24        (28,269 ) 
USD      77,322,782        CAD        105,053,438      UBS Securities LLC      1/9/24        (2,358,300 ) 
USD      61,345        HKD        479,096      UBS Securities LLC      1/9/24        (24 ) 
USD      138,720        HKD        1,083,323      UBS Securities LLC      1/9/24        (47 ) 
USD      180,769        HKD        1,409,645      UBS Securities LLC      1/9/24        203  
USD      485,647        HKD        3,790,599      UBS Securities LLC      1/9/24        96  
USD      23,211,456        HKD        181,298,507      UBS Securities LLC      1/9/24        (11,722 ) 
USD      279,249        JPY        40,491,510      UBS Securities LLC      1/9/24        (8,385 ) 
USD      578,150        JPY        83,153,486      UBS Securities LLC      1/9/24        (12,536 ) 
USD      834,811        JPY        119,049,779      UBS Securities LLC      1/9/24        (10,868 ) 
USD      2,266,660        JPY        319,964,520      UBS Securities LLC      1/9/24        (6,231 ) 
USD      110,009,886        JPY        15,691,260,068      UBS Securities LLC      1/9/24        (1,454,141 ) 
USD      142,945        SGD        191,701      UBS Securities LLC      1/9/24        (2,447 ) 
USD      307,249        SGD        411,320      UBS Securities LLC      1/9/24        (4,709 ) 
USD      423,530        SGD        564,026      UBS Securities LLC      1/9/24        (4,245 ) 
USD      1,144,615        SGD        1,516,653      UBS Securities LLC      1/9/24        (5,662 ) 
USD      55,484,220        SGD        74,089,744      UBS Securities LLC      1/9/24        (707,782 ) 
                 

 

 

  

Net unrealized depreciation on open forward foreign currency contracts

       $ (13,119,131 ) 
                 

 

 

  

 

See Notes to Schedules of Investments.

 

 

 

6

  

 Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report

  

FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

 

Abbreviation(s) used in this table:

AUD    — Australian Dollar
CAD    — Canadian Dollar
CHF    — Swiss Franc
EUR    — Euro
GBP    — British Pound
HKD    — Hong Kong Dollar
JPY    — Japanese Yen
NOK    — Norwegian Krone
SEK    — Swedish Krona
SGD    — Singapore Dollar
USD    — United States Dollar

This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.

 

See Notes to Schedules of Investments.

 

 

Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report 

  

 

 

7

FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

    SHARES      VALUE  
COMMON STOCKS - 99.3%      
COMMUNICATION SERVICES - 5.6%      

Diversified Telecommunication Services - 2.9%

      

Verizon Communications Inc.

      659,104      $ 24,848,221  
     

 

 

  

Media - 2.7%

      

Interpublic Group of Cos. Inc.

      326,208        10,647,429  

Omnicom Group Inc.

      153,701        13,296,673  
     

 

 

  

Total Media

         23,944,102  
     

 

 

  

TOTAL COMMUNICATION SERVICES

         48,792,323  
     

 

 

  
CONSUMER DISCRETIONARY - 2.7%      

Hotels, Restaurants & Leisure - 1.8%

      

Darden Restaurants Inc.

      94,783        15,572,847  
     

 

 

  

Household Durables - 0.9%

      

Garmin Ltd.

      64,616        8,305,741  
     

 

 

  

TOTAL CONSUMER DISCRETIONARY

         23,878,588  
     

 

 

  
CONSUMER STAPLES - 21.1%      

Beverages - 7.5%

      

Coca-Cola Co.

      367,159        21,636,680  

Keurig Dr Pepper Inc.

      689,268        22,966,409  

PepsiCo Inc.

      122,476        20,801,324  
     

 

 

  

Total Beverages

         65,404,413  
     

 

 

  

Consumer Staples Distribution & Retail - 0.8%

      

Sysco Corp.

      91,268        6,674,429  
     

 

 

  

Food Products - 8.1%

      

Conagra Brands Inc.

      394,457        11,305,138  

Flowers Foods Inc.

      157,072        3,535,691  

General Mills Inc.

      313,990        20,453,308  

Kellanova

      226,022        12,636,890  

Kraft Heinz Co.

      625,395        23,127,107  
     

 

 

  

Total Food Products

         71,058,134  
     

 

 

  

Household Products - 2.1%

      

Kimberly-Clark Corp.

      145,557        17,686,631  

Reynolds Consumer Products Inc.

      28,357        761,102  
     

 

 

  

Total Household Products

         18,447,733  
     

 

 

  

Tobacco - 2.6%

      

Philip Morris International Inc.

      226,673        21,325,396  

Universal Corp.

      11,078        745,771  

Vector Group Ltd.

      52,404        591,117  
     

 

 

  

Total Tobacco

         22,662,284  
     

 

 

  

TOTAL CONSUMER STAPLES

         184,246,993  
     

 

 

  
ENERGY - 0.3%      

Oil, Gas & Consumable Fuels - 0.3%

      

DT Midstream Inc.

      53,954        2,956,679  
     

 

 

  

 

See Notes to Schedules of Investments.

 

 

 

8

  

 Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report

  

FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

    SHARES      VALUE  
FINANCIALS - 13.0%      

Banks - 10.9%

      

Associated Banc-Corp.

      149,995      $ 3,208,393  

Atlantic Union Bankshares Corp.

      39,747        1,452,355  

Bank of Hawaii Corp.

      19,701        1,427,534  

Brookline Bancorp Inc.

      45,013        491,092  

Community Bank System Inc.

      31,515        1,642,247  

CVB Financial Corp.

      106,400        2,148,216  

Eagle Bancorp Inc.

      29,683        894,646  

First Commonwealth Financial Corp.

      46,140        712,402  

First Financial Bancorp

      28,052        666,235  

First Hawaiian Inc.

      86,245        1,971,561  

First Interstate BancSystem Inc., Class A Shares

      68,681        2,111,941  

First Merchants Corp.

      16,832        624,131  

FNB Corp.

      214,714        2,956,612  

Fulton Financial Corp.

      113,912        1,874,992  

Hope Bancorp Inc.

      76,366        922,501  

Independent Bank Group Inc.

      23,552        1,198,326  

NBT Bancorp Inc.

      18,760        786,232  

New York Community Bancorp Inc.

      903,339        9,241,158  

Northwest Bancshares Inc.

      54,136        675,617  

Old National Bancorp

      188,278        3,180,015  

Park National Corp.

      4,207        558,942  

PNC Financial Services Group Inc.

      93,348        14,454,938  

Preferred Bank

      6,999        511,277  

Prosperity Bancshares Inc.

      70,813        4,796,164  

Provident Financial Services Inc.

      47,243        851,791  

Sandy Spring Bancorp Inc.

      23,051        627,909  

Simmons First National Corp., Class A Shares

      49,178        975,692  

Towne Bank

      19,640        584,486  

United Bankshares Inc.

      71,659        2,690,795  

US Bancorp

      598,174        25,888,971  

Valley National Bancorp

      376,254        4,086,118  

WesBanco Inc.

      16,178        507,504  

Westamerica BanCorp

      11,511        649,335  
     

 

 

  

Total Banks

         95,370,128  
     

 

 

  

Capital Markets - 0.1%

      

Cohen & Steers Inc.

      8,768        664,001  
     

 

 

  

Insurance - 1.4%

      

CNA Financial Corp.

      18,234        771,480  

Fidelity National Financial Inc.

      125,625        6,409,387  

Old Republic International Corp.

      150,484        4,424,230  
     

 

 

  

Total Insurance

         11,605,097  
     

 

 

  

Mortgage Real Estate Investment Trusts (REITs) - 0.6%

      

Ladder Capital Corp.

      54,455        626,777  

Starwood Property Trust Inc.

      228,724        4,807,778  
     

 

 

  

Total Mortgage Real Estate Investment Trusts (REITs)

         5,434,555  
     

 

 

  

TOTAL FINANCIALS

         113,073,781  
     

 

 

  

 

See Notes to Schedules of Investments.

 

 

Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report 

  

 

 

9

FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

    SHARES      VALUE  
HEALTH CARE - 6.6%      

Pharmaceuticals - 6.6%

      

Bristol-Myers Squibb Co.

      349,064      $ 17,910,474  

Johnson & Johnson

      141,052        22,108,490  

Pfizer Inc.

      614,420        17,689,152  
     

 

 

  

TOTAL HEALTH CARE

         57,708,116  
     

 

 

  
INDUSTRIALS - 10.4%      

Aerospace & Defense - 2.3%

      

Lockheed Martin Corp.

      44,484        20,161,928  
     

 

 

  

Air Freight & Logistics - 2.1%

      

United Parcel Service Inc., Class B Shares

      115,505        18,160,851  
     

 

 

  

Machinery - 2.1%

      

Cummins Inc.

      76,564        18,342,438  
     

 

 

  

Professional Services - 1.5%

      

Paychex Inc.

      109,149        13,000,737  
     

 

 

  

Trading Companies & Distributors - 2.4%

      

Fastenal Co.

      281,202        18,213,454  

MSC Industrial Direct Co. Inc., Class A Shares

      31,267        3,166,096  
     

 

 

  

Total Trading Companies & Distributors

         21,379,550  
     

 

 

  

TOTAL INDUSTRIALS

         91,045,504  
     

 

 

  
INFORMATION TECHNOLOGY - 2.1%      

Communications Equipment - 2.1%

      

Cisco Systems Inc.

      369,076        18,645,720  
     

 

 

  
MATERIALS - 1.0%      

Containers & Packaging - 1.0%

      

Packaging Corp. of America

      51,364        8,367,709  
     

 

 

  
REAL ESTATE - 15.2%      

Diversified REITs - 1.2%

      

American Assets Trust Inc.

      34,244        770,832  

Broadstone Net Lease Inc.

      86,618        1,491,562  

WP Carey Inc.

      125,136        8,110,064  
     

 

 

  

Total Diversified REITs

         10,372,458  
     

 

 

  

Health Care REITs - 1.5%

      

CareTrust REIT Inc.

      56,019        1,253,705  

Healthcare Realty Trust Inc.

      220,311        3,795,959  

LTC Properties Inc.

      20,669        663,888  

Medical Properties Trust Inc.

      1,051,187        5,161,328  

Physicians Realty Trust

      174,898        2,327,893  
     

 

 

  

Total Health Care REITs

         13,202,773  
     

 

 

  

Industrial REITs - 0.6%

      

LXP Industrial Trust

      128,797        1,277,666  

STAG Industrial Inc.

      101,110        3,969,579  
     

 

 

  

Total Industrial REITs

         5,247,245  
     

 

 

  

 

See Notes to Schedules of Investments.

 

 

 

10

  

 Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report

  

FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

    SHARES      VALUE  

Office REITs - 0.9%

      

Brandywine Realty Trust

      204,388      $ 1,103,695  

COPT Defense Properties

      66,300        1,699,269  

Easterly Government Properties Inc.

      84,877        1,140,747  

Highwoods Properties Inc.

      102,830        2,360,977  

NET Lease Office Properties

      8,340        154,123  

Office Properties Income Trust

      90,963        665,849  

Piedmont Office Realty Trust Inc., Class A Shares

      134,000        952,740  
     

 

 

  

Total Office REITs

         8,077,400  
     

 

 

  

Residential REITs - 1.1%

      

Essex Property Trust Inc.

      37,465        9,289,072  
     

 

 

  

Retail REITs - 5.6%

      

Agree Realty Corp.

      86,595        5,451,155  

Getty Realty Corp.

      29,889        873,357  

Kimco Realty Corp.

      376,843        8,030,524  

NETSTREIT Corp.

      65,255        1,164,802  

NNN REIT Inc.

      129,746        5,592,053  

Realty Income Corp.

      397,589        22,829,560  

Retail Opportunity Investments Corp.

      80,045        1,123,031  

Spirit Realty Capital Inc.

      78,266        3,419,442  
     

 

 

  

Total Retail REITs

         48,483,924  
     

 

 

  

Specialized REITs - 4.3%

      

Crown Castle Inc.

      148,107        17,060,445  

CubeSmart

      141,657        6,565,802  

Four Corners Property Trust Inc.

      43,896        1,110,569  

Gaming and Leisure Properties Inc.

      154,243        7,611,892  

National Storage Affiliates Trust

      62,379        2,586,857  

Uniti Group Inc.

      223,865        1,293,940  

VICI Properties Inc.

      55,134        1,757,672  
     

 

 

  

Total Specialized REITs

         37,987,177  
     

 

 

  

TOTAL REAL ESTATE

         132,660,049  
     

 

 

  
UTILITIES - 21.3%      

Electric Utilities - 14.9%

      

ALLETE Inc.

      28,838        1,763,732  

Alliant Energy Corp.

      140,411        7,203,084  

American Electric Power Co. Inc.

      258,597        21,003,248  

Entergy Corp.

      129,776        13,132,034  

Evergy Inc.

      140,582        7,338,381  

Eversource Energy

      166,730        10,290,576  

Exelon Corp.

      505,990        18,165,041  

Hawaiian Electric Industries Inc.

      37,265        528,791  

OGE Energy Corp.

      109,467        3,823,682  

Pinnacle West Capital Corp.

      70,167        5,040,797  

Portland General Electric Co.

      79,989        3,466,723  

Southern Co.

      319,226        22,384,127  

Xcel Energy Inc.

      253,855        15,716,163  
     

 

 

  

Total Electric Utilities

         129,856,379  
     

 

 

  

 

See Notes to Schedules of Investments.

 

 

Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report 

  

 

 

11

FRANKLIN U.S. LOW VOLATILITY HIGH DIVIDEND INDEX ETF

 

Schedules of investments (unaudited) (cont’d)    December 31, 2023

(Percentages shown based on Fund net assets)

 

SECURITY

     SHARES      VALUE  

Gas Utilities - 0.3%

        

Northwest Natural Holding Co.

        16,880      $ 657,307  

Spire Inc.

        28,429        1,772,264  
       

 

 

  

Total Gas Utilities

           2,429,571  
       

 

 

  

Multi-Utilities - 6.1%

        

Avista Corp.

        66,513        2,377,175  

Black Hills Corp.

        48,677        2,626,124  

Consolidated Edison Inc.

        161,502        14,691,837  

DTE Energy Co.

        116,326        12,826,105  

NiSource Inc.

        338,072        8,975,811  

Northwestern Energy Group Inc.

        33,018        1,680,286  

WEC Energy Group Inc.

        119,152        10,029,024  
       

 

 

  

Total Multi-Utilities

           53,206,362  
       

 

 

  

TOTAL UTILITIES

           185,492,312  
       

 

 

  

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS

(Cost - $898,501,048)

           866,867,774  
       

 

 

  
     RATE               
SHORT-TERM INVESTMENTS - 1.0%        

Invesco Treasury Portfolio, Institutional Class

(Cost - $8,390,196)

      5.622 %      8,390,196        8,390,196 (a)  
       

 

 

  

TOTAL INVESTMENTS - 100.3%

(Cost - $906,891,244)

           875,257,970  

Liabilities in Excess of Other Assets - (0.3)%

           (2,545,793 ) 
       

 

 

  

TOTAL NET ASSETS - 100.0%

         $ 872,712,177  
       

 

 

  

 

(a)

Rate shown is one-day yield as of the end of the reporting period.

Abbreviation(s) used in this schedule:

REIT    — Real Estate Investment Trust

At December 31, 2023, the Fund had the following open futures contracts:

 

     Number of
Contracts		      Expiration
Date		      Notional
Amount		      Market
Value		      Unrealized
Appreciation		  
Contracts to Buy:               

E-mini S&P 500 Index

      13        3/24      $ 3,074,030      $ 3,133,000      $ 58,970  

This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.

 

See Notes to Schedules of Investments.

 

 

 

12

  

 Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report

  

Notes to Schedules of Investments (unaudited)

 

1. Organization and significant accounting policies

Franklin International Low Volatility High Dividend Index ETF (“International Low Volatility High Dividend Index ETF”) and Franklin U.S. Low Volatility High Dividend Index ETF (“U.S. Low Volatility High Dividend Index ETF”) (the “Funds”) are separate diversified investment series of Legg Mason ETF Investment Trust (the “Trust”). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

The Funds are exchange-traded funds (“ETFs”). ETFs are funds that trade like other publicly-traded securities. The Funds are designed to track an index. Similar to shares of an index mutual fund, each share of the Funds represents an ownership interest in an underlying portfolio of securities intended to track an index. Unlike shares of a mutual fund, which can be bought from and redeemed by the issuing fund by all shareholders at a price based on net asset value (“NAV”), shares of the Funds may be directly purchased from and redeemed by the Funds at NAV solely by certain large institutional investors who have entered into agreements with the Funds’ distributor (“Authorized Participants”). Also unlike shares of a mutual fund, shares of the Funds are listed on a national securities exchange and trade in the secondary market at market prices that change throughout the day.

Shares of the Funds are listed and traded at market prices on the Cboe BZX Exchange, Inc. for International Low Volatility High Dividend Index ETF and NASDAQ for U.S. Low Volatility High Dividend Index ETF. The market price for a Fund’s shares may be different from a Fund’s NAV. The Funds issue and redeem shares at NAV only in blocks of a specified number of shares or multiples thereof (“Creation Units”). Only Authorized Participants may purchase or redeem Creation Units directly with the Funds at NAV. Creation Units are issued and redeemed generally in-kind for a basket of securities and/or cash. Except when aggregated in Creation Units, shares of the Funds are not redeemable securities. Shareholders who are not Authorized Participants may not redeem shares directly from the Funds at NAV.

International Low Volatility High Dividend Index ETF and U.S. Low Volatility High Dividend Index ETF seek to track the investment results of the QS International Low Volatility High Dividend Hedged Index and QS Low Volatility High Dividend Index, respectively (together, the “Indices”). The QS International Low Volatility High Dividend Hedged Index seeks to provide more stable income through investments in stocks of profitable companies in developed markets outside of the United States with relatively high dividend yields or anticipated dividend yields and lower price and earnings volatility while mitigating exposure to exchange-rate fluctuations between the U.S. dollar and other international currencies. The QS Low Volatility High Dividend Index seeks to provide more stable income through investments in stocks of profitable U.S. companies with relatively high dividend yields and lower price and earnings volatility. The Indices are based on a proprietary methodology created and sponsored by Franklin Advisers, Inc., the Funds’ subadviser.

The Funds follow the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (“ASC 946”). The following are significant accounting policies consistently followed by the Funds and are in conformity with U.S. generally accepted accounting principles (“GAAP”), including, but not limited to, ASC 946.

(a) Investment valuation. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. When the Funds hold securities or other assets that are denominated in a foreign currency, the Funds will use the currency exchange rates, generally determined as of 4:00 p.m. (London Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before each Fund calculates its net asset value, the Funds value these securities as determined in accordance with procedures approved by the Funds’ Board of Trustees.

 

   Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report   

 

 

13

Notes to Schedules of Investments (unaudited) (continued)

 

Pursuant to policies adopted by the Board of Trustees, the Funds’ manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Funds’ manager is assisted by the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Funds’ pricing policies, and reporting to the Funds’ manager and the Board of Trustees. When determining the reliability of third party pricing information for investments owned by the Funds, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Trustees quarterly.

The Funds use valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

 

  •  

Level 1 – unadjusted quoted prices in active markets for identical investments

 

  •  

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

 

  •  

Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

 

 

 

14

    Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report   

Notes to Schedules of Investments (unaudited) (continued)

 

The following is a summary of the inputs used in valuing the Funds’ assets and liabilities carried at fair value:

International Low Volatility High Dividend Index ETF

 

ASSETS

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Long-Term Investments†:

            

Common Stocks

    $ 644,499,274        —         —       $ 644,499,274  

Preferred Stocks

      17,180,676        —         —         17,180,676  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Long-Term Investments

      661,679,950        —         —         661,679,950  
  

 

 

     

 

 

     

 

 

     

 

 

  

Short-Term Investments†

      1,478,616        —         —         1,478,616  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $ 663,158,566        —         —       $ 663,158,566  
  

 

 

     

 

 

     

 

 

     

 

 

  

Other Financial Instruments:

            

Futures Contracts††

    $ 86,792        —         —       $ 86,792  

Forward Foreign Currency Contracts††

      —       $ 2,409        —         2,409  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Other Financial Instruments

    $ 86,792      $ 2,409        —       $ 89,201  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 663,245,358      $ 2,409        —       $ 663,247,767  
  

 

 

     

 

 

     

 

 

     

 

 

  

LIABILITIES

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Other Financial Instruments:

            

Forward Foreign Currency Contracts††

      —       $ 13,121,540        —       $ 13,121,540  

 

†

See Schedule of Investments for additional detailed categorizations.

 

††

Reflects the unrealized appreciation (depreciation) of the instruments.

U.S. Low Volatility High Dividend Index ETF

 

ASSETS

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Common Stocks†

    $ 866,867,774        —         —       $ 866,867,774  

Short-Term Investments†

      8,390,196        —         —         8,390,196  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $ 875,257,970        —         —       $ 875,257,970  
  

 

 

     

 

 

     

 

 

     

 

 

  

Other Financial Instruments:

            

Futures Contracts††

    $ 58,970        —         —       $ 58,970  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 875,316,940        —         —       $ 875,316,940  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

†

See Schedule of Investments for additional detailed categorizations.

 

††

Reflects the unrealized appreciation (depreciation) of the instruments.

 

   Franklin Low Volatility High Dividend Index ETFs 2023 Quarterly Report   

 

 

15